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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Ramsey Su who wrote (25996)	11/5/1998 11:33:00 AM
From: Tony Viola	Read Replies (1) \| Respond to of 70976

Ramsey, >>>The message basically is - small investors, keep your money in the market so we can make the big bucks.<<< Can you tell us a better place to have kept our money in the last five years? Or, for that matter, just about any period of time? quote.yahoo.com^SPX&d=5y Tony

To: Ramsey Su who wrote (25996)	11/6/1998 11:46:00 AM
From: Tony Viola	Respond to of 70976

Ramsey, >>>the other wall street used stock salesman is Abbey Joseph Cohen.<<< Right on cue, heeeeerrrrreeee'sssss Abbey! Article below. FWIW, the Nando Times used copy space to call her: "Wall Street's best overall investment strategist for many years running." Is Nando full of it also? You know, saying that Battapaglia and Cohen are useless because they're always bullish, and the Nando Times, maybe the same for calling Cohen the best (but you didn't say that), could be extended to say that only those waffling on the fence, bull/bear, with oft changing opinions are of any value. To hold down a job as a strategist, you have to have an opinion, and those two have been right more than anyone I know. Is it their fault if they've seen it (correctly for the vast majority of the time) on the bull side? BTW, I did catch Joe on a bearish mission (albeit temporary) on one of the financial shows this summer. Apologize for not recalling if it was CNNfn, Fox biz, CNBC or what, but he was calling for market weakness for a while, particularly in the techs. A very vapid report, I admit. Tony Leading forecaster says U.S. economy should keep Wall Street rising Copyright © 1998 Nando Media Copyright © 1998 Reuters News Service Market Indices \| Dow Jones Industrials \| Internet Stocks \| Most Active \| Gainers \| Losers MIAMI (November 6, 1998 10:26 a.m. EST nandotimes.com) - Leading investment strategist Abbey Joseph Cohen of Goldman Sachs & Co. said on Thursday the U.S. economy should keep expanding at least until 2000 and should lift U.S. stocks even higher. "I think we will have a good year," Cohen told a meeting of south Florida bankers and investors, referring to a forecast at the start of the year that the Standard & Poor's 500 index of big U.S. companies would end 1998 at 1,150. "We think that's still a pretty good price target." Ranked as Wall Street's best overall investment strategist for many years running, Cohen has persistently advised investors to stay very heavily invested in U.S. equities and said she sees little sign of U.S. job growth easing or the long-running economic expansion in the United States ending. "On average, the S&P 500 is somewhat undervalued," she said. Investors worried about possible declines in U.S. corporate profitability were being distracted by a rash of exceptional writeoffs and other one-time events which disguised continuing healthy growth in operational earnings at American companies, she said. Earnings from operations should rise 5 to 7 percent over the next several quarters, she said. Cohen said her favorite sectors for investing now include energy, financial services and computers, all of which should post better earnings growth than the average of the S&P 500. U.S. paper makers and metals companies would likely have below-average earnings because they have too many competitors around the world. Likening the U.S. economy to a "supertanker" difficult to knock off a fixed course, Cohen said the United States was little threatened by financial crises in Asia, Russia and Latin America because only 13 percent of U.S. gross domestic product came from exports and most U.S. exports such as software and movies were unique and faced little direct competition. "We think there's very little likelihood that problems elsewhere will push us into recession," she said.